New Delhi, Oct 5 (SocialNews.XYZ) Oman emerged as India’s largest supplier of liquefied natural gas (LNG) in September by replacing the United States as the country continued to diversify energy imports amid ongoing geopolitical disruptions in West Asia, according to a report.
According to data from Kpler, India imported 585,000 tonnes of LNG from Oman during September, up 11.6 per cent from August, giving the Gulf nation a 27 per cent share of total LNG imports.
Nigeria became the second-largest supplier with shipments of 351,000 tonnes, although volumes were down 35 per cent from the previous month. The US, which had topped the supplier list in August with 848,000 tonnes, slipped to third place after exports to India declined 59 per cent, accounting for 16 per cent of September imports.
Qatar, once India's dominant LNG supplier with a market share of around 45 per cent, fell to sixth position and supplied about 94,000 tonnes during the month. The UAE supplied 311,000 tonnes, while Angola exported 205,000 tonnes to India.
The sharp decline in Qatari supplies follows disruptions caused by Iran's strike on Ras Laffan Industrial City in March, a key LNG production hub and a major source of natural gas exports to India.
Moreover, India's overall LNG imports declined 14 per cent month-on-month to 2.17 million tonnes in September from 2.5 million tonnes in August.
Natural gas plays an important role in fertiliser production, industrial heating, power generation and urban transportation. India imports nearly half of its LNG requirements, with about 60 per cent of shipments from West Asian suppliers such as Qatar and the UAE transiting through the Strait of Hormuz.
In addition, the government has increased efforts to diversify energy sourcing across LNG, LPG and crude oil, adding supplies from countries including Canada, Algeria, the US and emerging LNG producers such as Mozambique and Brazil to reduce exposure to geopolitical risks.
Analysts noted that while India's crude oil imports are relatively insulated because of diversified sourcing, LNG and LPG imports remain more vulnerable to supply and shipping disruptions in the Gulf due to limited short-term alternatives.
Source: IANS
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